Question

Create an account ledger outline and plan that has an emphasis on the interpretation of accounting information and the language of financial accounting to participate effectively in activities such as planning, investing, controlling, and managerial decision-making. Provide research examples to support the development of your Program Portfolio Project overview.

Answer 1

Management Decision consist of = Planning , Directing , Controlling and Business value

Planning – Mainly includes Strategy, positioning , Budgets . First it occurs at the high level of setting strategy . it then move to broad based thought about how to established an optimum position to maximize the potential for realization of goals

Strategy –A business should invest considerable time and effort in developing strategy . Strategy divided into three major part – core value , Mission and Sustainability.

Positioning mainly involved in Cost / Volume/ Profit analysis , Global trade and transfer , Branding , Pricing /Sensitivity and Competition

Budget mainly includes –Operating , capital , Financing

Controlling part mainly consist of Monitor ,Certificate and reliability, Scoreboard . Monitor includes Standard costs, Variances , Flexible tools, Scoreboard includes- Balance and Improvement

Under Monitoring process – to assist in monitoring productive efficiency and cost control

Variance –managers will focus on standard variance an manager should take corrective managers

Managerial decision – this decision making will help achieve the goals of the Organization .Leaders should be decision maker. Before taking decision , a manager makes a decision . Manager should make reliable , comprehensive strategy . This needs proper strategy – Decision making is one of the most vital management skill because it involves the final execution of a well thought of plan

Program Portfolio Project involve – mix of interrelated , dependent and connected Projects.

Program portfolio Project grouped together – past , present and future – and calculates the optimal prioritization and sequencing of projects to maximise ROI.PPM is generally used by Organizations to identify the potential return on a project . It makes it possible for companies that want to invest in new projects to forecast risks inherent in each and make an informed decision .

The primary objective of PPM is to maximize the benefits a company accrues from the projects it undertakes. Establishing an optimal mix of projects , Project management ensure a company is better placed to achieve its operational and financial goals

The portfolio project manager is integral to successful execution of the Organization strategy